SoftBank CEO: Sprint to save avg $2 bln a year after acquisition

June 20, 2013|Reuters

TOKYO, June 21 (Reuters) - SoftBank Corp CEOMasayoshi Son said on Friday that U.S. mobile carrier SprintNextel Corp will save 200 billion yen ($2 billion) a yearon average from cost-cutting measures in the first four yearsafter it is acquired by the Japanese company.

Son, speaking at an annual SoftBank shareholders' meeting inTokyo, said his company was on track to acquire Sprint by July,as long as its $21.6 billion bid is approved by both Sprintshareholders and the U.S. Federal Communications Commission.

Son also said the fierce bidding war for Sprint with U.S.satellite TV provider Dish Network Corp had promptedhis company to consider various other options, including buyingNo. 4 U.S. mobile carrier T-Mobile, which is 74 percent owned byDeutsche Telekom AG.